TOP 10 BIGGEST INSURANCE COMPANIES IN THE WORLD
Description
Number 10: United health group incorporated
United Health Group Incorporated is an American health care and insurance company. It is the largest healthcare company in the world. Its revenue is $226.2 billion as per 2018 and 115 million customers.
Its two business platforms—UnitedHealthcare for health benefits and Optum for health services—work together, serving more than 115 million people in every U.S. state and 125 countries.
The UnitedHealth Group uses its experience and resources in clinical care to improve the performance of the health care services sector.
The company's market cap was $278.8 billion on February 5, 2020.
Headquarters: Minnetonka, Minnesota, United States
Number 9: AIA Group Ltd
AIA Group was founded in 1919 in Singapore and is currently headquartered in Hong Kong. It is the largest pan-Asian life insurance group, with a presence in 18 different markets including China, Australia, New Zealand, India, and Cambodia. It specializes in life insurance and other financial services.
As of Dec. 31, 2018, AIA reportedly had assets of $230 billion and a market cap of $123.4 billion as of February 5, 2020.
Number 8: America international Group
American International Group, has offices in 80 different countries. The company, founded in Shanghai in 1919, is currently headquartered in New York City. It mainly operates in three segments including general insurance (commercial and personal insurance), life, and retirement, as well as a technology subsidiary called Blackboard Insurance.
You'll probably recognize the name as one of the companies that received a bailout of $180 billion from the U.S. government following the 2007–2008 financial crisis. According to the Financial Crisis Inquiry Commission, credit default swaps were sold without collateral, causing America international Group to fail.
The company has since recovered, reporting $492 billion in assets, and a market cap of $63.8 billion.
Number 7: China life insurance
China Life Insurance Company Limited provides life insurance services in China
It is one of Mainland China’s largest state-owned insurance and financial services companies, as well as a key player in the Chinese capital market as an institutional investor.
The company was founded in 1949 when the People's Insurance Company of China (PICC) was formed. Its offshoot People's Insurance Company of China Co. Ltd was created after parting ways with People's Insurance Company of China in 1996. It was renamed as China Life Insurance Company in 1999. The China Life Insurance Company was restructured in 2003 as China Life Insurance (Group) Company, which has seven subsidiaries. The businesses are spread across life insurance, pension plans, asset management, property and casualty, investment holdings, and overseas operations.
The company is listed on the New York Stock Exchange, the Hong Kong Stock Exchange, and the Shanghai Stock Exchange and is the biggest public life insurance company in terms of market capitalization in the world. The company boasts a market cap of $110 billion and assets of 579 billion dollars.
Number 6: Ping An of China
Ping An of China deals primarily with insurance, financial services, and banking. It is is one of the top 50 companies listed on the Shanghai Stock Exchange. Founded in 1988, it was China's first company to adopt a shareholding structure.
The company, headquartered in Shenzhen, China, is one of the world's most valuable insurance companies and one of the largest asset management and investment companies in the world. Its subsidiaries include Ping An Life, Ping An Property & Casualty, Ping An Annuity, and Ping An Health. The company's market cap is $211.2 billion and it has assets worth about 620 billon US dollars.
Number 5: Metlife Insurance
The actual name of Metlife insurance company is Metropolitan Life Insurance Company.
But it is well known as MetLife worldwide. MetLife is working moreover 60 countries and they have almost 90 million customers. MetLife, Inc is one of the largest global insurance providers.
MetLife has a market cap of $47.4 billion and assets of $687.5 billion. It is one of the world's largest insurers and also provides services in employee benefits and annuities.
The company's affiliates and subsidiaries include MetLife Investors, MetLife Bank—which was sold to MetLife Securities, Metropolitan Property, and Casualty Insurance Company.
The Headquarters is in New York, United States.
Number 4: Berkshire Hathaway
Berkshire Hathaway was founded in 1889 and is associated with Warren Buffet, who has transformed a mediocre entity into one of the largest companies in the world.
Berkshire Hathaway is now a leading investment manager conglomerate, engaging in insurance, among other sectors such as rail transportation, finance, utilities and energy, manufacturing, services, and retail through its subsidiaries.
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